Branding is one of the most crucial aspects in the modern business environment. Brand loyalty and brand image plays a critical component to the success of the company. The basic idea behind the present research is to provide for insights into the concepts brand loyalty and how branding influences consumers buying decisions and behaviour in the market. With number of companies using branding as means to market the products, it is necessary to study in depth the importance of branding and brand management strategies. The research will provide for the case study of BMW one of the biggest brand in the market.
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The research will analyse on how BMW uses its brand as means for marketing the products and services of the company. The research will also study for how brand has an influence on the consumer’s acceptance and perception about the company. It will also look at how celebrities are used by companies to built brand image and its implication on the consumers buying behaviour.
As such the research will study about the different aspects of branding and the role of branding in the present market conditions. The study will highlight the role brand plays in today’s market with reference to the case study of BMW. The research will highlight for branding and its implication on the company’s success.
As rightly said by Saunder & Thornhill (2003) it is very necessary to determine the research objectives so as to ensure the research moves ahead in the right direction as planned. McDaniel and Gates (2006) also provided, the idea of having what the research wants to achieve is the most critical to the success of the research. As such by having research objective clear, targeted statement that state the exact information needed to solve a research problem. The objectives thereby ensure that the research heads ahead in the right direction. As such the objectives of the present are as follows:
To highlight the role of branding in the current market conditions and its influence on the consumer buying behaviour and preferences.
Brand loyalty and its implication on the company’s success.
The use of celebrities as means to create brand loyalty and brand identity by companies.
The case study analysis of how BMW has use branding strategies for marketing its products and services.
Rationale behind the present research
Branding has acquired great importance in the present market conditions. Today more and more companies use brand as means for marketing the products it has become necessary to understand the role and importance of branding in the market. As such to better understand the same the research will provide for the case study of BMW one of the biggest brands in the industry. The research will look at the brand management strategies of BMW and how the same has contributed to the success of the company. Also it will look at the consumers buying behaviour and how the same is influence by the brand management strategies. It will also provide for the brand loyalty programmes in place at BMW and the effectiveness of such programmes.
As such to understand the same the research will try to conduct a survey of the consumers as to how branding influences their buying decisions and the need for brand loyalty in the market. The survey would provide for the opinion of the consumers as to the loyalty programmes and its influence on the consumer buying behaviour. It will also study for the effect of celebrities as means of building brand image and brand loyalty. This would also help us to understand the companies who are expected to become more sensitive and responsive to the customer needs and choices and endeavour to give great satisfaction.
Today brand have become one of the most critical components of the success of the companies. When we talk of brands it is necessary to discuss in the first instance of ‘what a brand is, why is it necessary, what are the advantages of having a brand an more importantly what effects does it have on the company’s performance and success. We have some of the most popular and world famous brands like Microsoft, Apple, P&G, IBM etc. The question is how branding help has the companies to attain such growth and success in the market. The fact is brand today have become one of the most important marketing tools is the brand image of the company. Now a day’s companies make use of brand management strategies as means for marketing the product of the companies.
In a study by Randall (2000) he stated brand as a word or set of words which refers to the characteristic like name, uniqueness, identity and quality etc of the products. Randall (2000) was a string believer that the success of the companies in the present competitive market is largely influence by strategic management and the success of the same is dependent on the branding strategies of the company. He showed for a strong correlation between strategic management and branding strategies of the companies.
In another study by Hart and Murphy (1998), which stated, “”There are various types of branding and branding processes and there are various management types involved in the actual branding and marketing of a product like retail branding, brand packaging, brand franchising, and brand licensing etc”. Hence from the above we see that branding includes a number of other functions within its meaning and is not only restricted to brand loyalty. As such brand management is a wide concept and includes a number of other things within its meaning.
Fournier (1998) stated brands as a distinct image in the minds of the consumers. According to Fournier (1998) brand includes having photographs and names of animals, famous personalities and places replaced several producers’ names etc to present the company. The concept of brand has been in existence since the Roman Empire. According to Pettitt and Brassington (2000) all these ideas may lead to an interpretation that ‘brand refers to creation of 3-dimensional character for products, described in the term of colors, packaging, symbols and name’.
Johnson (2006) stated that branding is a matter of great concern in the present market conditions. Companies spent huge sum of money so as to built and manage its brand image in the minds of the consumers. As such looking at the investment it is necessary that see that the brand builds the company’s image and make a difference in the minds of the consumers and is responsible to the competitive advantage of the company.
Brand extension and brand loyalty are sub products of branding. Where the former refers to extending the brand name to other products lines and services offered by the company. It refers to extending the products under the brand name of the company. On the other hand brand loyalty refers to the building loyalty among the consumers with respect to a particular brand. It refers to the acceptance of the brands among the consumers.
“Brand Loyalty is the consumer’s conscious or unconscious decision, expressed through intention or behaviour, to repurchase a brand continually. It occurs because the consumer perceives that the brand offers the right product features, image, or level of quality at the right price. Consumer behaviour is habitual because habits are safe and familiar. In order to create brand loyalty, advertisers must break consumer habits, help them acquire new habits, and reinforce those habits by reminding consumers of the value of their purchase and encourage them to continue purchasing those products in the future.” [essortment.com, 2002]
From the above we can see that branding plays a massive role to the success of the company. As such the proposed research will see at the profits levels, customer feedbacks, customer satisfaction and the role of branding on the above.
As such from the above we can see that the management of company is highly concern branding practices and strategies. It obviously means the companies need to give more attention compared of they gave before. Moreover, it is also important to identify how new brands affect the corporation’s name as well as other brands around. The concept of branding improves the genuine experience with product and thus contributes to value, Cowley (1991). This extra value, in combination with various other brand aspects, has been talked about for several decades, and had concluded with the term ‘brand equity’.
Hence from the above we can see that in the modern business brand management has an important role to play in a company. In the past brand management is often misunderstood as only a marketing strategy by the company. This is not at all true. Brand management is a much wider and broader concept that just marketing of products and services. The organizations should perceive it as way for the development and a method for improving customer faithfulness. So, the branding problems should be given topmost preferences, and tactical settlements should be concluded by the firm’s management.
BMW is one of the biggest brands in automobile industry. It has been known over the years for the quality of product and services. It enjoys a big brand name and image all across the globe. It is one of the prominent European Car manufacturers all across the globe. BMW is one of the most renowned car manufacturers and is known for the products that it has offered over the years.
As such the present research will provide for the case study analysis of BMW and how the branding is responsible to the success of the company. The company has been selected as a result of the brand image and value that it enjoys in the minds of the companies. The research will look at the different aspects of branding and how brand loyalty contributes to the success of the company.
Methodology refers to the manner in which the research has gone about with respect to collection of data. It provides details about research approach and the methods which have been adopted for undertaking the research. This plays a critical role to the success of the research. This method primarily explains the advantage and disadvantages of the different research methods. It also highlights the sources of primary and secondary data. It provides for the formulation of hypothesis and regression equation. Hence it can be seen that the chapter is primarily concern about research techniques and explains the reasons as to why one has been selected over the other.
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Methodology refers to the “theory of how research should be undertaken, it is the analysis of, and rationale for, the particular method used in the project” (Jankowicz, A., 1995). According to Jankowicz, A., 1995 it is the manner in which the research analyses the data to attain the objectives of the research. It studies for the a particular method and the reasons for adopting the method.
In addition, Ghauri et al (1995) argues that “research methodology can be conceived as a system of rules and procedures used for reasoning, reporting on how the findings were obtained and communicating the complete process to enable replication or indeed a critical review”. On the other hand Saunder & Thornhill (2003) the term methodology refers to “the theory of how research should be undertaken & it is an integral part of research”.
With respect to the data collection tools the primary sources of data it would be collected from books, magazines, journals, internet etc. Also the survey would be the primary sources would include survey and questionnaire method for the purpose of analysing how consumers view such branding and its impact on the consumer’s perception about the same. Primary data is the data collected by the researcher using tools like surveys, interviews, questionnaires, case studies, focus group interviews, etc. In this method the data collected is in direct relation to the proposed topic.
The researcher has framed a rough time frame of the list of activities proposed by him during the course of the research. Such a time frame ensures that the researcher completes the task on time and also meets with all the requirement of the university/professor.
Read Methodology Literature
Devise Research Approach
Draft Research Strategy
Feedback on proposal
Draft Findings Chapter
Update Literature Read
Complete Remaining Chapters
Draft to Supervisor for Feedback
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